Adventist Health Partners Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

Kathleen Ragusa

Phone

2242730190

Tax Period

2024-07-01 to 2025-06-30

Adventist Health Partners Inc, founded in 1998, is a major nonprofit that reported $175.0M in total revenue in fiscal year 2024.

Mission

Adventist Health System Sunbelt Healthcare Corporation and all its subsidiary organizations were established by the Seventh-Day Adventist Church to bring a ministry of healing and health to the communities served. Our mission is to extend the healing ministry of Christ.The taxpayer's parent is Adventist Midwest Health, which is owned 49% by Adventist Health System Sunbelt Healthcare Corporation (AdventHealth). Effective January 1, 2023, the taxpayer (or the taxpayer's parent) entered into a Master Management Agreement with AdventHealth. AdventHealth seeks to be widely respected as a consumer-focused organization that engages individuals in their health by delivering wholistic, best practice care across a connected, comprehensive continuum of services. With Christ as our example, AdventHealth cares for and nurtures people: our employees, our communities, our healthcare professionals, and those who trust us for care and healing.

Program Service Accomplishments

Program 1

Expenses: $181,858,016 Revenue: $174,535,250

Operation of out-patient physician clinics in the greater Chicagoland metropolitan area including the western portion of Cook County, DuPage County, and Will County. There were 678,083 patient...

Operation of out-patient physician clinics in the greater Chicagoland metropolitan area including the western portion of Cook County, DuPage County, and Will County. There were 678,083 patient encounters from July 1st, 2024 to June 30th, 2025.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $174,648,096

Investment Income $220,104

Other Revenue $162,235

TOTAL REVENUE $175,030,435

Expense Breakdown

Grants Paid $0

Salaries & Benefits $103,796,832

Fundraising Expenses $0

Program Expenses $181,858,016

Other Expenses $82,797,362

TOTAL EXPENSES $186,594,194

Year-over-Year Comparison

	2024	2023	Change
Revenue	$175,030,435	$162,957,278	+0.1%
Expenses	$186,594,194	$173,746,709	+0.1%
Net Income	$-11,563,759	$-10,789,431	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

296

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$858,771

Total Directors

$3,916,433

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Maycock Adam	Director (End 12/24)	0.10	Director	$0	$106,262	$829,764
Lewis MD Greg	Director	50.00	Director	$616,589	$23,785	$640,374
MacCarroll-Wright Elise	Director (Beg 1/25)	0.10	Director	$0	$0	$0
Radivojevic Vladimir	Director (End 1/25)	0.10	Director	$0	$107,120	$559,480
Liu MD John	Director	50.00	Director	$491,959	$31,582	$523,541
Kuhlman MD Geoffrey	Director	50.00	Director	$463,611	$40,892	$504,503
Nelson MD Kenneth	Director/Chairperson	50.00	Officer Director	$448,370	$38,785	$487,155
Tkachuck Dave	Director (Beg 1/25)	0.10	Director	$0	$0	$0
Ragusa Kathleen	Director/President	50.00	Officer Director	$0	$28,225	$371,616
Choudhury Seleem	Director (Beg 6/25)	0.10	Director	$0	$0	$0
Valaitis MD Sandra	Director	0.10	Director	$0	$0	$0
Amin MD Beejal	Physician	50.00	Highest	$1,216,840	$31,865	$1,248,705
Barkatullah MD Sameer	Physician	50.00	Highest	$981,515	$56,944	$1,038,459
Lertsburapa MD Keith	Physician	50.00	Highest	$968,836	$35,276	$1,004,112
Dalal MD Jay	Physician	50.00	Highest	$857,801	$47,077	$904,878
Spratford MD Eric	Physician	50.00	Highest	$840,827	$49,494	$890,321

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$175,030,435	$186,594,194	$42,734,155	$-11,563,759
2024	$162,957,278	$173,746,709	$43,550,162	$-10,789,431
2023	$74,323,167	$83,680,664	$34,194,860	$-9,357,497
2022	$100,596,319	$153,906,704	$36,000,454	$-53,310,385
2021	$104,392,902	$132,558,889	$73,033,637	$-28,165,987
2020	$91,037,621	$127,015,465	$66,863,587	$-35,977,844
2019	$96,632,410	$129,027,273	$40,528,049	$-32,394,863
2018	$94,510,728	$121,149,794	$32,635,446	$-26,639,066